Learn about actual and potential costs
How much should I pay for Drilling & Exploration Equipment?
What is the average price of Drilling & Exploration Equipment?
This procurement report includes pricing information to help you purchase Drilling & Exploration Equipment. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Drilling & Exploration Equipment been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Drilling & Exploration Equipment yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Drilling & Exploration Equipment?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Drilling & Exploration Equipment with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase Drilling & Exploration Equipment?
The market for drilling and exploration equipment has a moderate level of concentration, with the top four vendors accounting for about 40.0% of market revenue. Market share concentration has remained stable in the past three years. Although firms like Atlas Copco AB, Cameco Corporation, Joy Global Inc. and Caterpillar Inc.... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
How do you remain competitive as miners and water well drillers move to alternative equipment and methods, such as in-situ leaching and water well driving?
How do you win and retain business?
What advantages does your equipment have over those of your competitors?
What is your reputation like among customers and how have you developed it?
What manufacturing specifications do you follow to manufacture your drilling and exploration equipment?
What have you done to improve the reliability of your equipment in the past few years?
Do you have ISO certification? Are your systems audited and reviewed regularly?
What is the average lifespan of your drilling and exploration equipment?
“Sending out RFPs used to be a nightmare”
Let’s chat about how procurement market intelligence can reduce
the time you spend issuing RFPs.
Key elements for every RFP
What should my Drilling & Exploration Equipment RFP include?
Buyers should state their expected and preferred total value of the purchase contract.
Buyers should state whether their budget includes additional costs, such as delivery fees or maintenance packages.
Buyers should assess the reputation and experience of the supplier.
Buyers should consider the cost of the proposed product.
Buyers should consider the vendors level of customer service.
Buyers should consider the ease of use of the products being offered to ensure the buyer's operators will be able to use the product to its full potential.
Buyers should provide a list of key dates that pertain to the RFP process, such as the final dates to submit questions and proposals.
Buyers should provide a list of key milestones that will occur following the selection of a vendor, such as the expected date of delivery and any training courses being provided by the vendor.
Evaluate major factors to mitigate risk
How risky is the Drilling & Exploration Equipment supply chain?
The supply chain risk for drilling and exploration equipment is moderate. Vendors of this equipment source their key inputs from engine and turbine manufacturers, steel rolling and drawing operators as well as metal stamping and forging operators. Critical second-tier inputs, such as steel, are subject to frequent and volatile price... Subscribe to learn more.